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May 25, 2012
05/12
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they don't necessarily have as much government debt. it's that the banking sector may need so much help that the government would have to go into a lot of debt if the banks can't do it out in the private markets or raise the money on their own. that's the situation. that's where we are watching bankia. there used to be at least. they are having a tough time going into the private markets. we're going to talk about what is going on in europe because as simon pointed out, this has been an extremely pivotal week. we start a lot with the epicenter of the crisis with greece and explain what happens now, where do you go from here? how do you invest when things are so uncertain? what do you do when a country needs to create a new currency, carl? how do you do that? a lot of things that we'll explore at 1:00. >> greece is the fuse, spain is the bomb. i wonder, given the story in "the times" today about switching their currency for pounds. >> yeah. >> what level is your def-con? >> extremely high. two things happened this week. we have european
they don't necessarily have as much government debt. it's that the banking sector may need so much help that the government would have to go into a lot of debt if the banks can't do it out in the private markets or raise the money on their own. that's the situation. that's where we are watching bankia. there used to be at least. they are having a tough time going into the private markets. we're going to talk about what is going on in europe because as simon pointed out, this has been an...
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Mar 30, 2012
03/12
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there is no way, neither the canadian government nor the u.s. government will allow r.i.m.m. to get into the hands of those sorts of companies. so that limits your options. perhaps amazon is an interesting scenario. perhaps microsoft is an interesting scenario. i would look at a couple of those and perhaps a badly formed jv they might do to stop the bleeding. but the most logical buyers are really from asia. >> yeah. what kind of premium, if any, dennis? >> well, look, r.i.m.m. is only worth $7 billion. motorola, which has not had a great run to itself, sold for $12 billion. look, you've got to get aboard, over the hump, and even if you put a 20% premium on where it is today, that's $8.4 billion. that's a very, very digestible church for microsoft, for amazon, say for dell, hp. blackberry has a good name. it's just lost its way in terms of product development. >> yeah. you mentioned microsoft. of course, the journal today talks about the partnership that it has in place. >> yep. >> and in the journal's words, could be waiting for r.i.m.m. stock to get cheaper before it decide
there is no way, neither the canadian government nor the u.s. government will allow r.i.m.m. to get into the hands of those sorts of companies. so that limits your options. perhaps amazon is an interesting scenario. perhaps microsoft is an interesting scenario. i would look at a couple of those and perhaps a badly formed jv they might do to stop the bleeding. but the most logical buyers are really from asia. >> yeah. what kind of premium, if any, dennis? >> well, look, r.i.m.m. is...
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Sep 13, 2012
09/12
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we don't know what the spending policies of the government are. are they going to sequester? that's in the minds ofs bypeople all across the country. so i think the fed is doing everything they can with the toolbox they've got given the other part of the government, the congress, in particular, is not doing their job. >> all the same. if you've got draghi doing his thing in europe and if there are come promees speculate on the hill why not let this one go and maybe revisit it later in the year? >> i think you saw the job numbers today. you obviously saw it before they came out. he talked about it, as you say, a few weeks ago. think to do it at the next meeting, so right on top of the election. you know, we all know that fed actions do have a delayed effect. the longer they wait, then they even gotten the tale until it actually impacts. i think with unemployment where the chairman's made it clear that he wanted to do something. now, can he deliver everybody? i assume so, but we'll see this afternoon. >> somebody said what's going to be the most fun this afternoon, if, in fact,
we don't know what the spending policies of the government are. are they going to sequester? that's in the minds ofs bypeople all across the country. so i think the fed is doing everything they can with the toolbox they've got given the other part of the government, the congress, in particular, is not doing their job. >> all the same. if you've got draghi doing his thing in europe and if there are come promees speculate on the hill why not let this one go and maybe revisit it later in the...
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Dec 19, 2012
12/12
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government motors no more. the treasury to exit its stake in the next 12 to 18 months, purchasing 2 million shares by the end of this month. >> another challenging quarter for fedex with the blame squarely on sandy. but the stock is up pre-market. >> oracle posts a strong quarter with even stronger guidance. the season rebound in europe. no impact from the fiscal cliff. >> and ge gets boosted from ubs's key call list on the weaker than expected macro environment. still on the list is including -- well tell you in a couple of minutes. >> general motors is up sharply in the pre-market session. the treasury department says it intends to sell the rest of its stakes in gm in the next 12 to 15 months. the automaker will buy back 200 million shares from treasury for $27.50 a share. treasury says it plans to sell its other remaining shares through various means in an orderly fashion. timothy masssad will join us later. this could be a buy signal with the government signaling it is in fact out. >> i think people are loo
government motors no more. the treasury to exit its stake in the next 12 to 18 months, purchasing 2 million shares by the end of this month. >> another challenging quarter for fedex with the blame squarely on sandy. but the stock is up pre-market. >> oracle posts a strong quarter with even stronger guidance. the season rebound in europe. no impact from the fiscal cliff. >> and ge gets boosted from ubs's key call list on the weaker than expected macro environment. still on the...
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Apr 17, 2012
04/12
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government. we'll get your responses later today. >> more than curly fries. >> i'm not getting much of anything. i filed an extension. >> i did, too. coming up, getting ahead of the curve on intel's earnings after the bell. the stock is at a 52-week high. will the rally keep going? and we have an up day with the dow looking to gain 71 points at the open. stay tuned. ca refu l, pringles are bursting with more flavor. [ crunches ] mmm. ♪ [ male announcer ] pringles... bursting with more flavor. [ crunch! ] introducing gold choice. the freedom you can only get from hertz to keep the car you reserved or simply choose another. and it's free. ya know, for whoever you are that day. it's just another way you'll be traveling at the speed of hertz. ♪ >>> nine minutes before the bell rings on wall street. let's bring in art. we are looking at a higher open. granted we have positive news out of the financial sector. we did have housing starts that came in worse than expected. revised lower for february a
government. we'll get your responses later today. >> more than curly fries. >> i'm not getting much of anything. i filed an extension. >> i did, too. coming up, getting ahead of the curve on intel's earnings after the bell. the stock is at a 52-week high. will the rally keep going? and we have an up day with the dow looking to gain 71 points at the open. stay tuned. ca refu l, pringles are bursting with more flavor. [ crunches ] mmm. ♪ [ male announcer ] pringles... bursting...
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Jun 11, 2012
06/12
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not just because of the dividend but better relatiops with government officials. and since he took the job. >> he addresses the shareholders. the shareholders matter. there was a bit of contempt for the shareholders by steve job. tim cook doesn't have that. this is a very important call. i would love to hear apple saying look. here is a road map. and it's a good one and you should by the stock. tim cook seems to care about stock. >> he didn't care. >> it's also very, very fierce week, a fierce year, guys, for tech. windows eight comes out later this year. google is having it's io conference. loyalties with developers. they tend to now be a little more loyal. they get a little more revenue for their apps, but those loyalties can change easily. we will see what they bring to the table today. you can imagine the emotions around this. the line building already around the block. this is essentially a huge party for the bay area in general. in the past year they have had a big name band come to play. cake, bare naked ladies, the wall flowers. they bus people out to corp
not just because of the dividend but better relatiops with government officials. and since he took the job. >> he addresses the shareholders. the shareholders matter. there was a bit of contempt for the shareholders by steve job. tim cook doesn't have that. this is a very important call. i would love to hear apple saying look. here is a road map. and it's a good one and you should by the stock. tim cook seems to care about stock. >> he didn't care. >> it's also very, very...
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May 23, 2012
05/12
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there's 25% owned by the german government. but the ceo said we're hope ffu 20-13 we'll making a dividend. a solidly profitable year. there's the difference between what's going on in the north and the south. here's what's important about toll brothers. that is twice what the analysts had. now, remember, a month ago, we were talking about expectations of 20-30% order growth in all the home builders. and they all had done that. nobody has strong as 47%. i think that was the top number that i've seen so far. now, right now, all of these companies are coming on in line. and the second thing is everybody is wondering why isn't this showing up in the existing and new home sales numbers. the home builders that are publicly traded are taking market share away. but it's still a very, very small part of the overall housing market. it's a very small business. >> what about our broad market. sometimes it has an overwhelming force and other times it doesn't. >> watch how the euro behaves. the bottom line means when you're short going in to
there's 25% owned by the german government. but the ceo said we're hope ffu 20-13 we'll making a dividend. a solidly profitable year. there's the difference between what's going on in the north and the south. here's what's important about toll brothers. that is twice what the analysts had. now, remember, a month ago, we were talking about expectations of 20-30% order growth in all the home builders. and they all had done that. nobody has strong as 47%. i think that was the top number that i've...
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Mar 14, 2012
03/12
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government for ten years. that surge continues. that's been one bright spot. >> then pull up an intraday of gs if we can look at goldman. wondering what the impact is on the stock after a bruising, brutal op-ed in "the new york times"? greg smithgate as they are calling it. damage, i think, we were down 0.7, now down 0.6. a little more significant. we'll see if we get close to normal levels again. >> we will. wouldn't anticipate an op-ed like that would have much impact on the stock price. it is one withering criticism. fascinating he decided to make a decision to go public like that with a brutal criticism of this firm. much of it, i have been hearing for quite some time from clients, but importantly, those same clients don't seem to leave goldman sachs. >> right. one of the great paritiy parodi today, why i left the empire. darth vader complained killing isn't the same. he is trying to keep the integrity of the empire. >> we just watched episode six the other day in my household, again. it's all coming back to me. >> s&p -- we ar
government for ten years. that surge continues. that's been one bright spot. >> then pull up an intraday of gs if we can look at goldman. wondering what the impact is on the stock after a bruising, brutal op-ed in "the new york times"? greg smithgate as they are calling it. damage, i think, we were down 0.7, now down 0.6. a little more significant. we'll see if we get close to normal levels again. >> we will. wouldn't anticipate an op-ed like that would have much impact on...
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Sep 27, 2012
09/12
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to backstop the government with potentially buying of its bonds. herein lies the problem. this is a country that has tried austerity. it's not like greece that's been dragging its feet. lehoy has enacted over 60 billion euros' worth of reforms, over 2 1/2 years to 2014. and the problem is, those reforms are making things worse. it's that whole contradiction is austerity driving growth out of the country, or actually is it creating conditions for investors to get more confidence? and then you get the protests from the people on the street. i'm actually standing on the exact point just outside where parliament is barricaded. you can see behind me just right at that point where over the last two nights, we've seen police charges, plastic bullets being fired as well, protesters getting violent because they're getting very frustrated about the really tough economic conditions which they don't see anything getting better. but i do want to leave this here on a very positive note. and there is one positive thing going on. and that is exports, and that is c
to backstop the government with potentially buying of its bonds. herein lies the problem. this is a country that has tried austerity. it's not like greece that's been dragging its feet. lehoy has enacted over 60 billion euros' worth of reforms, over 2 1/2 years to 2014. and the problem is, those reforms are making things worse. it's that whole contradiction is austerity driving growth out of the country, or actually is it creating conditions for investors to get more confidence? and then you...
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Mar 1, 2012
03/12
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is this a government intervention? >> knolls. there is -- >> when a default happens -- >> when a default occurs. in the case of greece, which is the relevant sure, thus far there lab a so-called private sector involvement purportedly voluntary agreement with the private sector bondholders, and there's also been an exchange of bonds by ecb and other government agency with greece that essentially gives some protection to the ecb for its greek debt holdings. the news this morning i believe was that the isda had determined those two events did not constitute a credit event from for the purpose of a cds activation. >> and why did it not create the dynam dynamic? >> their view is that so far that the negotiations have been voluntary. now, the possibility exists, the greek government has retroactive created so-called collective action clauses, which it could use in the future to force other private sector investors to take losses, even if they haven't agreed to this voluntary deal. in that case, the isda would look at it glen, perhaps i
is this a government intervention? >> knolls. there is -- >> when a default happens -- >> when a default occurs. in the case of greece, which is the relevant sure, thus far there lab a so-called private sector involvement purportedly voluntary agreement with the private sector bondholders, and there's also been an exchange of bonds by ecb and other government agency with greece that essentially gives some protection to the ecb for its greek debt holdings. the news this morning...
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Dec 10, 2012
12/12
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, but little government, right? >> well, i guess we're talking a little bit of both. because illinois makes everybody's government look little or small by comparison. you know, on my license plate it says illinois, land of lincoln. but my guest, wes mosser, wes, what a great first name. i feel like that should be a character in a clint eastwood movie. what did you call illinois? >> land of 10,000 governments. >> is that the most in the entire country? >> most in the country. >> i want you to tell me first of all how you know this? >> well, every ten years the census bureau does a survey of local governments and they count up all the local governments for every state in the whole country, school districts to basic districts, anything with taxes authority -- >> let me start you right there. anything with taxing authority. so, there is a reason for the proliferation of illinois fifedom and that is to get inside people's wallets. so you're talking about raising money. whether it's through municipal bonds like board of e
, but little government, right? >> well, i guess we're talking a little bit of both. because illinois makes everybody's government look little or small by comparison. you know, on my license plate it says illinois, land of lincoln. but my guest, wes mosser, wes, what a great first name. i feel like that should be a character in a clint eastwood movie. what did you call illinois? >> land of 10,000 governments. >> is that the most in the entire country? >> most in the...
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Nov 13, 2012
11/12
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governments are cutting back. john chambers did well getting deep with governments and now that's something that is not flourishing. we never thought that the government wouldn't just keep spending. governments around the world. >> when at&t unveiled the big spending plan, it was juniper shares that went higher. cisco is here. the government business saddled below expectations on the street. a lot of people thought juniper was losing to cisco. >> i questioned whether they fell behind. i hate the group. it continues to disappoint because i think we're waiting for 4g, 5g. even the terrific ceo came on scott mcgregor said 5g is coming. we all wait 5g. >> verizon wireless going to spend a special dividend to parents. we'll see more of this in the next seven weeks. >> absolutely. >> we should point out that it is weak today because of write-downs in spain and other countries. that is weighing on the ftse in the u.k. of course as you point out, 45%, perhaps the greatest single investment. 45% ownership of verizon wirele
governments are cutting back. john chambers did well getting deep with governments and now that's something that is not flourishing. we never thought that the government wouldn't just keep spending. governments around the world. >> when at&t unveiled the big spending plan, it was juniper shares that went higher. cisco is here. the government business saddled below expectations on the street. a lot of people thought juniper was losing to cisco. >> i questioned whether they fell...
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Oct 2, 2012
10/12
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whoever the government is that made it so hard to buy also made it easy to buy. >> the banks are doing it on their own. five, six years they were willing to lend to anyone. >> sorry. >> go ahead. >> that was pointed out by the citi note that underwriters are much tighter these days. so the risk is we have all the starts and the home builders are doing well but they will reach the point where the buyers can't get the credit they need and demand is gone. >> that's why when the toll brothers made it, they were in the process. it is one of those things, why aren't more people using the money and bernanke -- go buy a house, chairman. chairman bernanke, go buy an apartment for rental. what you'll see is unless you pay in cash or cut out the banks entirely and that hurts the rate of return, unless you're paying crash you'll tie yourself up for a really long time. evil gains are feeding into things. i do need to modulate here in the risk of the parts of corporations and the banks doing a 180. this is trauma from the financial corporation, which is okay. you want them to have some memory of it.
whoever the government is that made it so hard to buy also made it easy to buy. >> the banks are doing it on their own. five, six years they were willing to lend to anyone. >> sorry. >> go ahead. >> that was pointed out by the citi note that underwriters are much tighter these days. so the risk is we have all the starts and the home builders are doing well but they will reach the point where the buyers can't get the credit they need and demand is gone. >> that's...
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Jul 17, 2012
07/12
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government? >> well, enforcement cases like this take a long time. our really dedicated staff starting looking at this in april of 2008, but we had to build the case. we had to reach out internationally and dmesically. this was a case of manipulating, attempting to manipulate a late, false reporting to a rate that means so much to the american public. >> since you've gone through that audiotape and looked at the document, what other banks are on the hook here? >> i thought you might ask that, but i can't really compromise enforcement matters. found in the barclays case is they were aiding and abetting banks a, b, c and d. >> what's the total liability? do people put this number maybe in the tens of billions of dollars? >> libor and other rates like it are really the mother of all benchmarks. $350 billion of derivatives and $10 trillion of borrowing are based on it, so we all lose if this rate is not honest. >> let's move on to perrigrin. how come you didn't catch the fraud? >> i think it was 2007 and '08. we are not the self-regulatory agency. there
government? >> well, enforcement cases like this take a long time. our really dedicated staff starting looking at this in april of 2008, but we had to build the case. we had to reach out internationally and dmesically. this was a case of manipulating, attempting to manipulate a late, false reporting to a rate that means so much to the american public. >> since you've gone through that audiotape and looked at the document, what other banks are on the hook here? >> i thought you...
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Oct 19, 2012
10/12
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did he have less legitimacy with government officials? >> not at all. first of all i didn't deal much with pandit, i met him a couple of times. citi group was very fortunate in dealing with treasury and our office most of it was done by one of the vice presidents at citi and lou caden had a keen political ear and instinct how to deal with treasury. we had no difficulty with citigroup at all. >> an interesting time in banking in this country. appreciate your fwidance. see you soon. >> any time. >>> markets continue to decline. dow is down 133. the big weakness on the dow continues to be names that reportedly are mcdonald's, microsoft and ge and now aig joining the ranks of companies that are down almost 4% in their case. when we come back it's been 25 years since the stock market crash known as black monday. we'll talk to the man who helped make sure all those trades at the cme actually got leader that day, the former chairman of the cme, jack sander. you should know that axiron is here. the only underarm treatment for low t. that's right, the one you ap
did he have less legitimacy with government officials? >> not at all. first of all i didn't deal much with pandit, i met him a couple of times. citi group was very fortunate in dealing with treasury and our office most of it was done by one of the vice presidents at citi and lou caden had a keen political ear and instinct how to deal with treasury. we had no difficulty with citigroup at all. >> an interesting time in banking in this country. appreciate your fwidance. see you soon....
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Sep 24, 2012
09/12
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but really what we need to do is get government out of the way. this entrepreneur thing happens on its own by its own volition as long as tax policy is correct. that's what they were talking about. you get situations like entrepreneurs that become very successful, fror instance, zuckerberg and some of the millionaires he's created are splitting off and investing their own. they don't just sit on their cash, buy a yacht and sail around the world. >> why is one of the big platforms of this election that very issue regarding tax policy? it seems so self-evident to people we rub shoulders with on this trading floor but not to the population at large. >> they think it's gets muddied. if you talk about the capital gains tax. there was a guest on earlier today that says, what's it mean to somebody making $50,000? lowering the capital gains tax to somebody like that is the most important thing you can do because corporations are going to create jobs. people invest in start-ups that can create jobs and their pension funds will get dividends instead of cash
but really what we need to do is get government out of the way. this entrepreneur thing happens on its own by its own volition as long as tax policy is correct. that's what they were talking about. you get situations like entrepreneurs that become very successful, fror instance, zuckerberg and some of the millionaires he's created are splitting off and investing their own. they don't just sit on their cash, buy a yacht and sail around the world. >> why is one of the big platforms of this...
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Sep 20, 2012
09/12
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today the federal government if you like of spain meeting with them for more concessions towards their independence, their ability to set tax rates even as they attempt to bail them out. there's splintering you see across europe into almost a tribalism at times. it continues through the economic crisis. i should mention on the irish yields today that actually -- and ireland has its problems still as it attempts to come back to the market. we did fall below 5%. we ticked higher over there on the 10-year overall. still those yields moving in the right direction. >> very nice. simon, thanks a lot for everything this hour. >>> want to bring in mary thompson on the floor of the nyse. dow is negative, mary. consumer index doing pretty well today. >> very well, carl. i wnt out is a number of things simon pointed out are weighing on the markets as well. concerns about weakness in china, weakness in europe as well keeping pressure on stocks. we should note the dow, s&p and nasdaq are off its lows of the day. the dow in particular helped by the strength we're seeing in the consumer sector today.
today the federal government if you like of spain meeting with them for more concessions towards their independence, their ability to set tax rates even as they attempt to bail them out. there's splintering you see across europe into almost a tribalism at times. it continues through the economic crisis. i should mention on the irish yields today that actually -- and ireland has its problems still as it attempts to come back to the market. we did fall below 5%. we ticked higher over there on the...
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Jun 4, 2012
06/12
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. >> we won't be able to pay for it any longer out of government funds. that will be bankrupt. >> hopefully i'll get my contacts cheaper with that ab acquisition of 1-800-contacts. >> private deal. terms not disclosed. >> usually that means it wasn't material. perhaps less than 5% of 12 points overall market value which is $22 billion. not sure what the number was. >> great ages on america play. people are losing their eyesight left and right. >> absolutely true. >> i use readers. anyone use readers? >> no. >> i got them from cvs. the ones with little lights on, makes you look like you're from mars. which confirms for people. >> the trading day still young. a lot more "squawk on the street" still ahead. >>> coming up, market volatility hurting your head? >> he's got a headache. >> no, i don't. >> how about now? >> yeah, it's coming on. >> cramer's got the cure for the insanity. >> don't forget to dot the "is." >> six stocks in 60 seconds when "squawk on the street" returns. ♪ [ laughter ] ♪ [ female announcer ] each one of us is our own boss. ♪ and
. >> we won't be able to pay for it any longer out of government funds. that will be bankrupt. >> hopefully i'll get my contacts cheaper with that ab acquisition of 1-800-contacts. >> private deal. terms not disclosed. >> usually that means it wasn't material. perhaps less than 5% of 12 points overall market value which is $22 billion. not sure what the number was. >> great ages on america play. people are losing their eyesight left and right. >> absolutely...
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Jun 18, 2012
06/12
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we see the process of forming a government. greece invented two key concepts, democracy and drama, so for the next couple days we'll get a lot of political theater. it began today antonacy samuras the winner of the leads party gods to see the leader of the second party, they sit down to try to form a goism. the leftist had made very clear he was not going to, and then samaras, the winner, spoke to reporters. here's what he said. >> he is not willing to participate in such a government or such a coalition. i believe that the government should immediately be formed. it's something that is required as stated by the developments by the economic situation, and by the vote of the greek people. so that's what we're trying to do. >> reporter: here are the three key things. everybody estimates that dee spite the sausage being made and the fear, they'll have a government by wednesday. the new democracy party has made clear, what they're looking for is more time, perhaps as much as two years in order to hit the fiscal deficit targets or t
we see the process of forming a government. greece invented two key concepts, democracy and drama, so for the next couple days we'll get a lot of political theater. it began today antonacy samuras the winner of the leads party gods to see the leader of the second party, they sit down to try to form a goism. the leftist had made very clear he was not going to, and then samaras, the winner, spoke to reporters. here's what he said. >> he is not willing to participate in such a government or...
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Jun 15, 2012
06/12
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that's sufficient under the law to win a conviction for the government. here, of course, they had far more evidence, not only of friendship but deep financial relationships between the two parties. so that really was not much of a hurdle, in my view, for the prosecutor in this case. >> bertha? >> indeed, carl. that is one of the issues yesterday when they asked about conspiracy, the judge said that it didn't -- the conspiracy didn't need to work. the overt act didn't need to be successful, necessarily, for their to be a conspiracy. when they asked for clarification. that is, indeed, one of the charges on which they have found mr. gupta guilty along with three of the securities fraud charges. an interesting thing about this case, i was talking to a reporter with the indian media. there is tremendous interest in this case in india. you have to remember mr. gupta came to this country, had been orphaned as a young boy. he worked his way up, got an education, worked his way up to the top of the ranks at mckenzie. after that he was very much a corporate shaman
that's sufficient under the law to win a conviction for the government. here, of course, they had far more evidence, not only of friendship but deep financial relationships between the two parties. so that really was not much of a hurdle, in my view, for the prosecutor in this case. >> bertha? >> indeed, carl. that is one of the issues yesterday when they asked about conspiracy, the judge said that it didn't -- the conspiracy didn't need to work. the overt act didn't need to be...
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Mar 8, 2012
03/12
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government regulations change... oil peaks and plummets. and let's not even get started on the weather. the fact is: no two flights are ever the same. no matter how many times we've accomplished them in the past. the eighty-thousand employees at delta... must predict the unpredictable. anticipate the unexpected. and never let the rules... overrule common sense. this is how we tame the unwieldiness of air travel. pull it taut... and wrap it around the globe... until it's not just lines you see... it's the world. ♪ >>> some interesting times in the banking business. mary thompson at the citi financial's conference today and bank of america was speaking, a protester interrupted by yelling "bust up bank of america." we're told that mr. moynihan since continued the speech but we'll bring you more details as we learn more about that. bank of america presentation at the citi conference interrupted by a protester. >>> u.s. manufacturing running on all cylinders. experiencing an expansion unlike the last three decades. phil lebeau is live in washi
government regulations change... oil peaks and plummets. and let's not even get started on the weather. the fact is: no two flights are ever the same. no matter how many times we've accomplished them in the past. the eighty-thousand employees at delta... must predict the unpredictable. anticipate the unexpected. and never let the rules... overrule common sense. this is how we tame the unwieldiness of air travel. pull it taut... and wrap it around the globe... until it's not just lines you...
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May 31, 2012
05/12
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biz investment up sharply, government another tick down 3.9%. inventories going lower. that may be a good sign, not so much inventory buildup. i'll be back at 10:30 with economists reaction to the data and how forecast for that super bowl of data, the payrolls may be changing. melissa. >> thank you very much. steve liesman, see you later. check in with rick santelli in chicago. rick. >> the nice thing about government data is there's a lot of different rabbit holes we can go down. my sources, friends, have been sending me one of the best. this is u.s. corporate profits. they were down over 4% in this gdp report. that's the worst showing since the credit crisis in '08. look at a 20-year chart. this is not good. it's one of these subindexes many people pay attention to. i think the graphics do it justice. that number wasn't very good. of course we see how the markets responded. small moves at hugely important historical spots with regard to fixed income. look at a 24-hour chart, ten-year note rates. yes, we did, eastern blip under 160. and the boone leading charge on hist
biz investment up sharply, government another tick down 3.9%. inventories going lower. that may be a good sign, not so much inventory buildup. i'll be back at 10:30 with economists reaction to the data and how forecast for that super bowl of data, the payrolls may be changing. melissa. >> thank you very much. steve liesman, see you later. check in with rick santelli in chicago. rick. >> the nice thing about government data is there's a lot of different rabbit holes we can go down....
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Dec 12, 2012
12/12
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the government is a huge part of their gdp, decision making is not really marketing. there's unintended consequences of their policy. for example, if you cannot shut down a poorly performing or money losing factory, what effect will that have on somebody who might want to expand his or her business? if you know that you can never -- if you know you have a liquidity -- illiquidity and can never get out of a position, are you much less likely to go into it? sure. the ramifications and consequence of their policies are starting to be felt there now. we're not going to get out of it. it's a big gdp. we're very active there. some of the greatest companies in the world are french companies. >> i asked this of jamie, and it's an important question, given some of the reputational hit that goldman took over the last couple of years. public still has a very negative perception, i think, of wall street. do you think that's changing? do you think you're doing something to change it? i note that you do 10,000 small businesses and 10,000 women, which are all important programs, but
the government is a huge part of their gdp, decision making is not really marketing. there's unintended consequences of their policy. for example, if you cannot shut down a poorly performing or money losing factory, what effect will that have on somebody who might want to expand his or her business? if you know that you can never -- if you know you have a liquidity -- illiquidity and can never get out of a position, are you much less likely to go into it? sure. the ramifications and consequence...
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Sep 28, 2012
09/12
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government per diems aren't helping. business travel needs to lift hotel occupancy through the election and actually in response to it. that will also be critical for next year's corporate rates for the likes of marriott and intercontinental about to thrash out for the hotels that they service. incidentally those two stocks are up 30% and 40% so analysts say be careful. the reits that hold the hotels will likely trade more properties. we'll follow on offerings for investors. and the hope trade is under way so accelerating yields or could be share holder pain. casual dining this year's drought is about to become next year's commodity head wind. in the burger wars value appetizing will increasingly be pitched against expensive remodeling possibly hurting everybody they say in the industry. that's a q 4 t and l check. i'm simon hobbs. >> amazon is planning an online market place for wine sales, the second attempt at selling wine to consumers after problems with a partner prompted it to end the first attempt three years ago.
government per diems aren't helping. business travel needs to lift hotel occupancy through the election and actually in response to it. that will also be critical for next year's corporate rates for the likes of marriott and intercontinental about to thrash out for the hotels that they service. incidentally those two stocks are up 30% and 40% so analysts say be careful. the reits that hold the hotels will likely trade more properties. we'll follow on offerings for investors. and the hope trade...
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Jul 18, 2012
07/12
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you couldn't have big government. if you love big government, love the fed. they finance the wars and the welfare and it doesn't work and ends up in a crisis. it's solvency crisis and can't be solved printing a lot of money so i think the very first step is transparency and for us to know. we have a right to know. you may be correct in your assumption or at least i'm sure you believe this. but maybe i should be talking to the congress. that we should stand up and say, yes, we demand to know. trillions and trillions of dollars being printed out of thin air and bailing out the friends. they stand ready to do it. the crisis is as far as i'm concerned my opinion is it's an early stages. it's far from over. we're in deep doldrums and we never changed policy. we never challenge anything. we just keep doing the same thing. congress keeps spending the money. welfare expends exponentially. wars never end and deficits don't matter. and when it comes to cutting spending, republicans and democrats get together and say, oh no, we can't really cut and if we do cut we cut p
you couldn't have big government. if you love big government, love the fed. they finance the wars and the welfare and it doesn't work and ends up in a crisis. it's solvency crisis and can't be solved printing a lot of money so i think the very first step is transparency and for us to know. we have a right to know. you may be correct in your assumption or at least i'm sure you believe this. but maybe i should be talking to the congress. that we should stand up and say, yes, we demand to know....
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Jun 22, 2012
06/12
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>> there's a industry argue about brazil and how it's not waiting, that the brazilian government is done really incredible thing. floyd norris as a piece about the president, congress waking up to the idea we need pipelines everywhere in order to bring down the cost of oil, and create millions of job. i think without a jobs program t. won't matter. i'm not being political, but those are things that would tell me -- with we go to melissa? here is daniel rodriguez, now trading here at the big board under cmco.t. welcome to your listing. thank you very much. >> you're going public, in fact you had to cut the size of your marketing, were you hesitant about going public now? >> we have a great company, we are very confident about south america, we are thinking in we're in a great region and we're confidence we think everything will work well. >> you operate at supermarkets across south america under the name jumbo among others. are there any signs of concern about the latin-american consumer? >> we have operations in five countries. i think all the countries are growing well. and we see very
>> there's a industry argue about brazil and how it's not waiting, that the brazilian government is done really incredible thing. floyd norris as a piece about the president, congress waking up to the idea we need pipelines everywhere in order to bring down the cost of oil, and create millions of job. i think without a jobs program t. won't matter. i'm not being political, but those are things that would tell me -- with we go to melissa? here is daniel rodriguez, now trading here at the...
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Oct 17, 2012
10/12
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government is showing signs it's committed to reform. the ten-year there, 5.5%, the lowest since april. mixed results for the third quarter. they are up 70% this year. >> the second place financial debate is in the books, incumbent barack obama and challenger mitt romney were not pulling any punches. john harwood with highlights for the showdown and where things stand in the run for the white house. >>> double whammy, taking a toll on shares of ibm and intel. we will explore whether tougher times are ahead for these blueships. talk to one analyst downgrading ibm this morning. >> and there continues to be plenty of buzz surrounding the surprising ouster of vickram pandit. revelation owes what city insiders knew, coming up. >>> it was a break even quarter compared to analyst estimates. we're looking for a seven cents a share loss. revenue, a bit short of consensus. ceo brian moynihan pointing to several positive trends, including an increase in deposits, mortgage originalation and small business lending. as well, kayla, i know you were on
government is showing signs it's committed to reform. the ten-year there, 5.5%, the lowest since april. mixed results for the third quarter. they are up 70% this year. >> the second place financial debate is in the books, incumbent barack obama and challenger mitt romney were not pulling any punches. john harwood with highlights for the showdown and where things stand in the run for the white house. >>> double whammy, taking a toll on shares of ibm and intel. we will explore...
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May 30, 2012
05/12
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as for government debt, let me think this one through. we constantly see people agonizing over whether they will have qe-3. why would we need the fed to ma anyone manipulate rates lower than they already are? i can't figure that out. and you want sponsorship, not a safety trade. listen, i thought that a lot of the programs at the federal reserve did were bad for the dollar, and they were. but obviously europe sinking into the ocean is worse for the euro and it helps the dollar. last, but not least, how many times have you heard with taxes, let's go back to clinton-era taxes. we created 20-million-something jobs. in 1994 the unemployment rate was 5.6%. fed funds rate was 5.5%. there's your answer! just put the rate back up to 5.5% and everything will be great. you see how dumb that logic is? back to you. >> the economy looks a lot different today than back in '94, true. >> bingo! >> thank you, rick. >>> when we come back, the wall street giant, the ceo of lehman brothers, peter cohen is with us live. we'll talk about the state of the marke
as for government debt, let me think this one through. we constantly see people agonizing over whether they will have qe-3. why would we need the fed to ma anyone manipulate rates lower than they already are? i can't figure that out. and you want sponsorship, not a safety trade. listen, i thought that a lot of the programs at the federal reserve did were bad for the dollar, and they were. but obviously europe sinking into the ocean is worse for the euro and it helps the dollar. last, but not...
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Jun 1, 2012
06/12
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government resuming its compliants. there could be some weather pay back still in this number, but that doesn't explain the weakness elsewhere. here's the real unemployment rate ticking up 15.8. and that's all discouraged workers. here's some of the economists saying basically, all of the commentary he's saying is bad, awful and terrible. and groult may be no better than the 19 we have in this quarter. combined with the fact that inflation is below target, the june 19th, 20th meeting has increased. they call this number being around a hundred thousand or less. they're now saying we expect to see through it. perhaps look passed. we may record april personal spending. >> sorry, that's a mistake down at the bottom. melissa, bernanke kpmted a pullback from the stronger growth this month. i wonder if he's still seeing that saying you know what, we have a worrisome downward shift here. >> and, steve, we were having a conversation earlier about this number and the possibility of qe3 and the increased talk because of these numb
government resuming its compliants. there could be some weather pay back still in this number, but that doesn't explain the weakness elsewhere. here's the real unemployment rate ticking up 15.8. and that's all discouraged workers. here's some of the economists saying basically, all of the commentary he's saying is bad, awful and terrible. and groult may be no better than the 19 we have in this quarter. combined with the fact that inflation is below target, the june 19th, 20th meeting has...
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Sep 5, 2012
09/12
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i'd want to own gold as much as i can provided the government doesn't confiscate it as we did in this country in 1934. >> the other side we're watching this morning amd shares down by about 5.2% right now getting a downgrade by ubs and the central thesis is the pc market is shrinking. it is something we already knew. they're not in the right areas of the market. >> amd. people try to catch the bottom in amd. they just can't fit -- people are addicted to trying to catch the bottom in the $3 or $4 stocks. it's okay if you have good man anlgment and a game plan. >> intel lower as well. the semiconductor index weighed down right now by amd. meantime as we mentioned facebook ceo mark zuckerberg set to give his first ipo interview next week. what can he say to turn the company shares around? tweet auns let us and let us kn you think. take a look at the early morning movers on wall street. hi. i'm henry winkler. and i'm here to tell homeowners that are 62 and older about a great way to live a better retirement. it's called a reverse mortgage. [ male announcer ] call right now to receive your
i'd want to own gold as much as i can provided the government doesn't confiscate it as we did in this country in 1934. >> the other side we're watching this morning amd shares down by about 5.2% right now getting a downgrade by ubs and the central thesis is the pc market is shrinking. it is something we already knew. they're not in the right areas of the market. >> amd. people try to catch the bottom in amd. they just can't fit -- people are addicted to trying to catch the bottom in...
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Feb 7, 2012
02/12
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nobody would say the more equitable governed gm was better governed than ford. >> just to add on to that. >> ten seconds. >> i think they have been very good at protecting the company so they can go for the long term like apple and amazon. that's very much to their credit. >> let's enon that congenial agreement. >> the topic is ben bernanke ben bernanke and what he's really like. tell us what you really think he wants to say. we'll share your thoughts in a few minutes. stay tuned. impact wool exports from new zealand, textile production in spain, and the use of medical technology in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. ♪ our machines help identify early stages of cancer, and it's something that we're extremely proud of. you see someone who is saved because of this techno
nobody would say the more equitable governed gm was better governed than ford. >> just to add on to that. >> ten seconds. >> i think they have been very good at protecting the company so they can go for the long term like apple and amazon. that's very much to their credit. >> let's enon that congenial agreement. >> the topic is ben bernanke ben bernanke and what he's really like. tell us what you really think he wants to say. we'll share your thoughts in a few...
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Apr 11, 2012
04/12
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the new frenchman on the governing council of the european central bank. he was the guy that today is in charge of the market operations. he suggested that perhaps in spain the political will is there but the markets were not actually reflecting that which is a clear way of opening the door to the prospect that perhaps the european central bank will soon restart buying spanish bonds. that's how people took it today. i'll show you what happened to the yields as a result. let's go to the map as we shut out on today's session around europe. >> are closing now. >> so as you can see, it's green virtually everywhere. if you didn't know where finland was, you can see it now. it's red as a rumt z s a result happened with nokia. banks did well around europe today. let me show you specifically on spanish and italian yields when we got up toward 6% yesterday on what the madrid government has to borrow and way the comments from the frenchman brought us down. this is a weekly chart. you can see that we just tracked lower. that's eased tensions as far as many are concer
the new frenchman on the governing council of the european central bank. he was the guy that today is in charge of the market operations. he suggested that perhaps in spain the political will is there but the markets were not actually reflecting that which is a clear way of opening the door to the prospect that perhaps the european central bank will soon restart buying spanish bonds. that's how people took it today. i'll show you what happened to the yields as a result. let's go to the map as...
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Dec 3, 2012
12/12
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the concern was that the government wasn't going to allow for any price increases for verisign. that's why the stock pulled back. in the wake of the number, reassessing the situation, the company on track for good revenue growth and as a result we have seen a turn-around in today's session, up more than 6%. back to you. >> ocekay, thanks mary. >>> fitch is out with its latest ratings on u.s. states. we have a look at which ones face the biggest threat from the fiscal cliff. >>> later, if you own a car but never drive it, you might be able to make some money off it. ashton kutcher and marissa mayer are backing the start up. the ceo of get-around is coming up. gecko (clearing throat) thank you, mr. speaker, uh, members of congress. in celebration of over 75 years of our government employees insurance company, or geico...as most of you know members it.congress. ...i propose savings for everyone! i'm talking hundreds here... and furthermore.. newscaster:breaking news. the gecko is demanding free pudding. and political parties that are actual parties!? with cake! and presents! ah, th
the concern was that the government wasn't going to allow for any price increases for verisign. that's why the stock pulled back. in the wake of the number, reassessing the situation, the company on track for good revenue growth and as a result we have seen a turn-around in today's session, up more than 6%. back to you. >> ocekay, thanks mary. >>> fitch is out with its latest ratings on u.s. states. we have a look at which ones face the biggest threat from the fiscal cliff....
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Feb 16, 2012
02/12
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except in the government sector. but big influence on the financial sector is what happens in europe. you know, without financing, this economy has proven like every other economy to be hurting. europe right now is really the question mark for the financial industry. >> there are a number of banks, of course, looking to shed assets. that is european banks, david. many of them are selling things over here. does that create opportunities for you or are you looking at all this from afar as well? >> no. certainly opportunities for third avenue and potentially for distressed opportunities down the road. but we're very conscious of the price that's paid for investments. just being available to purchase in the market doesn't necessarily make it attractive. the opportunity really comes when the pricing sets to a point where we think we can make a reasonable return on that investment. so we're watching carefully right now. i think jim's comment about the european effect will be more relevant to what's happening domestically.
except in the government sector. but big influence on the financial sector is what happens in europe. you know, without financing, this economy has proven like every other economy to be hurting. europe right now is really the question mark for the financial industry. >> there are a number of banks, of course, looking to shed assets. that is european banks, david. many of them are selling things over here. does that create opportunities for you or are you looking at all this from afar as...
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Sep 21, 2012
09/12
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now, think about how the tax policy in essence gives the government actually very large powers. you make this monstrous code, you ever tried to read any of it or think about how high and tall it is? but all these little loopholes and nuances, most of them are there for a reason, lobbyists, whatever, but the power is the interpretation as carl levin is doing. but these firms or mitt romney, they don't do their own taxes, they hire firms, they get certified, they go through audits so it's almost as if it's a bit of a tool. now contrast all that with a quote from james koutoulis, who we've had on many times and represents the customers of mf global. listen to his quote or we should read it. his quote is on the screen and basically the trustee for mf global inc. estate has published a report that leaves no doubt that mf global senior executives committed crimes yet the department of justice has made it abundantly clear they will not prosecute obama campaign contributor jon cor design, however the government routinely attempts prosecution for tax violations against politically unfavo
now, think about how the tax policy in essence gives the government actually very large powers. you make this monstrous code, you ever tried to read any of it or think about how high and tall it is? but all these little loopholes and nuances, most of them are there for a reason, lobbyists, whatever, but the power is the interpretation as carl levin is doing. but these firms or mitt romney, they don't do their own taxes, they hire firms, they get certified, they go through audits so it's almost...
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Oct 26, 2012
10/12
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trade detracting and government up 0.71%. a big part of that gain, federal defense spending up 17% for the biggi isgest gain since 2009. it follows straight quarters of decline. looks like the drought took away half a point of growth and inflation was higher than expected. still sluggish growth that faces a big challenge in coming months. i would say this is the economy the fed forecast when it decided to do qe infinite. >> i wonder, too, steve, given the make-up of the components. is the number more or less subject to revision than past quarters? >> you know, it's hard to say. i don't think there's any particular trend there. the inventory numbers will be rejiggered, probably the investor numbers. everything can come in. trade is a big factor, inventory's a big factor. hard to know, carl. right now it just -- it doesn't change your mind, right? had the number been 2.5 or 3%, i would have said, hey, time to rethink the economy. 2%, 1.8%, six of one, half a dozen of another. >> we'll get a lot of numbers t. >> we'll get to the
trade detracting and government up 0.71%. a big part of that gain, federal defense spending up 17% for the biggi isgest gain since 2009. it follows straight quarters of decline. looks like the drought took away half a point of growth and inflation was higher than expected. still sluggish growth that faces a big challenge in coming months. i would say this is the economy the fed forecast when it decided to do qe infinite. >> i wonder, too, steve, given the make-up of the components. is the...
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Jul 13, 2012
07/12
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the bank's move generating cautious praise from some in the governance community. owner bloxham writing to cnbc in an e-mail that clawbacks are substantial and added that the board should have been more out front on the clawback for jamie and the cfo and perhaps an internal audit would have done good as well. whether or not any of dimon's pay is clawed back is something we probably won't know until next year. simon, back to you. >> hang on a minute. they're obviously not going to claw it back are they if they come out with the figures and the news is as bad as it is going to get. >> the board said they will make that decision in due time. >> the due course of business. we don't know. maybe they will claw back some pay. i guess they're going to figure it out at the end of the year when they see how the trade has been handled and how the rest of the business is impacted. >> sounds like kicking the can down the road. thank you very much. let's continue our j.p. morgan conversation. gerald cassidy joins us from rbc capital and he rates jpm as an out performer. is that
the bank's move generating cautious praise from some in the governance community. owner bloxham writing to cnbc in an e-mail that clawbacks are substantial and added that the board should have been more out front on the clawback for jamie and the cfo and perhaps an internal audit would have done good as well. whether or not any of dimon's pay is clawed back is something we probably won't know until next year. simon, back to you. >> hang on a minute. they're obviously not going to claw it...
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Mar 28, 2012
03/12
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you don't want the dutch government to fall at this stage. that's not kind of constructive. >> i think you could say that about a lot of governments. how about this report out of citi saying it's likely that spain would take part in some kind of program in 2012. not helpful. >> it's not helpful. there are so many questions out there about spain and the degree to which it's able to finance itself in this environment. it comes back to growth. this is the new focus of even those that are investing. are we getting growth across europe never mind austerity and the figures are very challenging. the public sector finance figures are tough at the moment. >> thank you, simon. keeping an eye on europe and also an eye on china. i don't know if you saw weak data out of china last night. continues to signal a slowdown in that country. capital markets editor gary kaminsky is back with that. not encouraging. >> the overall shanghai market. the reason we bring this up, carl, we pointed it out yesterday the correlation between european markets and u.s. equity
you don't want the dutch government to fall at this stage. that's not kind of constructive. >> i think you could say that about a lot of governments. how about this report out of citi saying it's likely that spain would take part in some kind of program in 2012. not helpful. >> it's not helpful. there are so many questions out there about spain and the degree to which it's able to finance itself in this environment. it comes back to growth. this is the new focus of even those that...
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Oct 5, 2012
10/12
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he said 4 million is reasonable, but the federal government is not being helpful. i know you favor all sort of energy, solar, fantastic. what do you say about the 4 million? >> actually, a say that we need to create more jobs across the board and particularly, highly skilled people to work in the refinery and production areas where we're finding more energy and we have to have a balance, so i'm totally for that. i encourage more a perennisship programs and training in that area. we have a high need for welders and people working in refineries and i'm all for paying for those jobs and looking at other alternative forms of energy and we have to have a balance of both. >> the unemployment rate falling below 8% for the first time since january 2009 and i'm sure the labor department was hearing about that this morning. at the same time, can you tell the american people that this 7.8 number marks the turnaround that we have seen the worse when it comes to the labor market. i would say we still have a ways to go and we have it well below 12 million and we have to continue
he said 4 million is reasonable, but the federal government is not being helpful. i know you favor all sort of energy, solar, fantastic. what do you say about the 4 million? >> actually, a say that we need to create more jobs across the board and particularly, highly skilled people to work in the refinery and production areas where we're finding more energy and we have to have a balance, so i'm totally for that. i encourage more a perennisship programs and training in that area. we have a...
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Dec 18, 2012
12/12
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taxes enough to pay for the increase in what government is doing right now. >> in the infrastructure spending, it wasn't in the numbers. which we just learned. and these other little provisions that senator conrad was talking about, such as amt and doc fix, are not in the numbers. so i really don't think we have a document here that we can add up from the president. and so i think it's a little bit late to get to the deal. >> okay. >> good news to bad news, all at one time. >> merry christmas, everybody. >> caruso-cabrera wanted to marry the guy that wanted to go over. >> larry, thank you very much for being with us. >> thank you for having me. >> that does it for us today. join us tomorrow. right now it's time for "squawk on the street." >> good tuesday morning. i'm carl with melissa lee, david faber, live from the new york stock exchange. jim cramer is on assignment today. well, are we getting close to a fiscal cliff deal or not. futures are up and the dow gained 100 yesterday. but there is room for skepticism. europe's grappling with the same question helped by some decent uk infl
taxes enough to pay for the increase in what government is doing right now. >> in the infrastructure spending, it wasn't in the numbers. which we just learned. and these other little provisions that senator conrad was talking about, such as amt and doc fix, are not in the numbers. so i really don't think we have a document here that we can add up from the president. and so i think it's a little bit late to get to the deal. >> okay. >> good news to bad news, all at one time....
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Mar 22, 2012
03/12
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renegade soldiers claim they've seized power from the government. two-thirds of randgold occurs in the west african country. the average 30-year mortgage rate now above 4% for the first time since october of last year, standing at 4.08%. >> it is a broad base move lower. the main indices down now 63 on the dow. nasdaq and the s&p tracking lower. it is the material stock, the energy stocks, oil of course is falling, that is dragging us down into negative territory, we've lost two bucks on oil. you see the breadth of the move there, 3:1 decline to advancers. let's move to the nasdaq and check in with what's happening there, again, 3:1. an hour into trade, let's head over to chicago for more on what exactly people are talking about and how to trade it. kevin ferry is a cnbc contributor and chief market strategist at kronos future management. kevin, how focused are you on the chinese situation? is this behind the bulk of the move we're seeing today? >> okay, good morning, simon. i think this is definitely what traders are talking about and it's not goin
renegade soldiers claim they've seized power from the government. two-thirds of randgold occurs in the west african country. the average 30-year mortgage rate now above 4% for the first time since october of last year, standing at 4.08%. >> it is a broad base move lower. the main indices down now 63 on the dow. nasdaq and the s&p tracking lower. it is the material stock, the energy stocks, oil of course is falling, that is dragging us down into negative territory, we've lost two bucks...
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Jun 27, 2012
06/12
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government and the banks and the european banks, don't worry. be cool. >> raising equity at the wrong time and then -- poor spanish citizens feeling it was a duty. what in god's name did we get ourselves in to? they have handled it poorly as you say. perhaps we do fail to appreciate the amount of equity raised that went on in this country in that period you're talking about. beginning early '09 and on from there. >> the administration always very reluctant to talk about it. it had the bailout vision to it. it's very successful. >> t.a.r.p. started under the bush administration anyway. >> something good to help bankers. fat cats. don't have votes and be careful of the banks and the bailouts and a loser theme. he ought to embrace the fact we are not europe and doesn't seem to resonate for him. >> s&p up 7 points. check in with mary thompson on the floor in for bob this morning. hey there. >> good morning, melissa. dow up 50 points. early gains across the board with the exception of retailers showing weakness on a wednesday where investoring look f
government and the banks and the european banks, don't worry. be cool. >> raising equity at the wrong time and then -- poor spanish citizens feeling it was a duty. what in god's name did we get ourselves in to? they have handled it poorly as you say. perhaps we do fail to appreciate the amount of equity raised that went on in this country in that period you're talking about. beginning early '09 and on from there. >> the administration always very reluctant to talk about it. it had...
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Oct 18, 2012
10/12
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turned the switch off. >> don't you think the government would be pleased by that? this is what they intended. >> oh, yeah, the government is thrilled, which means there's much less risk. these companies -- when lehman blew up, david, what was the ratio when lehman blew up versus what they are leverage ratio w 30, close to 40. >> fannie and freddie was 90. >> their balance sheet was leveraged at least 30 times their capital. >> those days are over. >> those days are far over. we're talking closer to 12, 13, 14, somewhere in there, which makes a lot more sense. it's p just dodd-frank. it is also basel iii. that is very important, even more important, in terms of simple capital requirements they're already getting in line for, adjusted for, and it makes profitability harder to come by. you can't get the same returns when you have to hold a lot more capital against these businesses. but that being said, it doesn't mean they can't get back to 12%, 13% roes. >> morgan stanley, like the other companies in the financials, their book value, their tangible book value is well
turned the switch off. >> don't you think the government would be pleased by that? this is what they intended. >> oh, yeah, the government is thrilled, which means there's much less risk. these companies -- when lehman blew up, david, what was the ratio when lehman blew up versus what they are leverage ratio w 30, close to 40. >> fannie and freddie was 90. >> their balance sheet was leveraged at least 30 times their capital. >> those days are over. >> those...
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Oct 15, 2012
10/12
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you have governance of the board. it will take time, jim. the dote alt clear wire traded up sharply we know because many believe it's credit cart will be enhanced when it is owned or controlled more by sprint. >> congratulations. you are well ahead of this story. i mean people have just continually wondered why the stock has gone up and it's because of your reporting. because you're well ahead and people just accepted the oh, they're not going to do anything. >> because it is a low priced stock we don't have any idea in price. this is a complicated process that they are working towards and working on from what i hear the hope is if they could get a clear wire done when they close the softbank transaction that would be beneficial. neither side is commenting, not conditioned on that the deal itself and neither side on the conference call mayayoshi son or dan would comment. >> would they be locked up to stay in their positions because softbank doesn't have any experience in the united states and that's a huge concern and the analysts and invest
you have governance of the board. it will take time, jim. the dote alt clear wire traded up sharply we know because many believe it's credit cart will be enhanced when it is owned or controlled more by sprint. >> congratulations. you are well ahead of this story. i mean people have just continually wondered why the stock has gone up and it's because of your reporting. because you're well ahead and people just accepted the oh, they're not going to do anything. >> because it is a low...
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Sep 18, 2012
09/12
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they're all government controlled. and the government wants to even out the subscribers. they want china telecom and unicome to gain subscribers on purpose because china mobile's so big. that's the challenge that apple's facing with mobile. >> would you argue that a would be china deal has the most upside of any potential catalyst over the next two years? >> really, there's two upside potential catalysts, china mobile and docomo. they're a huge carrier, big 4g network, they're bleeding subscribers in japan like crazy, they don't have an iphone, that could be a big subscriber boost, as well. they're bigger than verizon. >> interesting. you caught us on a landmark day, peter. we know you cover the company closely, we'll see you soon. >> thanks for having me. >> talking some apple today. >>> meantime, presidential candidate mitt romney as you probably know by now facing some criticism after a video of comments he made to the fundraiser in may drew attention on the internet. it was surreptitiously recorded and provided to the magazine "mother jones." >> don't worry, we'll tak
they're all government controlled. and the government wants to even out the subscribers. they want china telecom and unicome to gain subscribers on purpose because china mobile's so big. that's the challenge that apple's facing with mobile. >> would you argue that a would be china deal has the most upside of any potential catalyst over the next two years? >> really, there's two upside potential catalysts, china mobile and docomo. they're a huge carrier, big 4g network, they're...
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Apr 3, 2012
04/12
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government spending, i don't want to fall back on, sit just a romney elect piece? >> sure. do you think the threat of whatever may or may not happen to taxes at year end is an anchor around the market seals? >> stock market or economy? >> stock market. >> the stock market is up 60%. since the president took office, he claims no credit because i think the swing voters don't own stocks. >> you see hesitancy by corporate america as we head toward the election itself, wondering which way it will go. i hear that, that it will become more of a factor, that dreaded uncertainty that we hope to all get by but still hear all too often. >> oil and gas, if you really are believing that the next step could be getting rid of these big tax breaks for oil and gas, you might just say, this is an interesting i'm worried about. >> do they need tax breaks, oil and gas? >> it's controversial. maybe they wouldn't be wildcatting as much as they are, although the president is saying, listen, they're making so much money. it's obviously an issue. everyone pays money at the pump. they figure someone
government spending, i don't want to fall back on, sit just a romney elect piece? >> sure. do you think the threat of whatever may or may not happen to taxes at year end is an anchor around the market seals? >> stock market or economy? >> stock market. >> the stock market is up 60%. since the president took office, he claims no credit because i think the swing voters don't own stocks. >> you see hesitancy by corporate america as we head toward the election itself,...
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Jun 25, 2012
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so i don't think the discounts would change with the government. i don't think there's much opportunity to do that. the fee might go away. and certainly they would hope to make it up in volume, so to speak, with induced demand as new members come into the system. but the market really has been skeptical about that and not priced that opportunity in. so that's, i think, the biggest reason why there's not that big an impact on the pharmaceutical sector specifically. >> let's talk about what has been a key driver because many of these stocks in this group are at or close to 52-week highs. that's because there's been a flight to safety in the stock market, a flight to yield, a lot of these stocks have great yields here. katherine, at this point, it seems like one of the biggest risks to this group would be a sort of risk-on attitude toward the stock market where people would be willing to rotate out of these steady eddies and go into higher stocks. >> i can't disagree with that. health care reform is something we're waiting to come and go. the impact o
so i don't think the discounts would change with the government. i don't think there's much opportunity to do that. the fee might go away. and certainly they would hope to make it up in volume, so to speak, with induced demand as new members come into the system. but the market really has been skeptical about that and not priced that opportunity in. so that's, i think, the biggest reason why there's not that big an impact on the pharmaceutical sector specifically. >> let's talk about what...
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Apr 9, 2012
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transformation from natural gas and shale, all of that was done without any subsidies from the federal government or anything and i believe that's the same change can occur with just a degree of private industry and it will be able to come on with most of those investments because it will be a remarkable job creator, one of the few industries that did well was the construction of pipeline industry. this would put,000s of people to work what we seem to be doing is putting people to work, bidding out the insfra structure. >> yeah, i -- you know, i believe that you'll hear a bit more about that from the republicans once they firm up a nominee. i think on the democratic side there's an anti fuel agenda that is still in there. if i were looking anywhere in there, i would say look on the republican side. >> i do not believe that he is the man if romney wants to understand this business. he's got to go to someone who is just has done a fantastic job. melissa? >> mark, thanks a lot for your time. it's interesting to note, quickly, billions of dollars have been loaned to subsidize the green energy. >> som
transformation from natural gas and shale, all of that was done without any subsidies from the federal government or anything and i believe that's the same change can occur with just a degree of private industry and it will be able to come on with most of those investments because it will be a remarkable job creator, one of the few industries that did well was the construction of pipeline industry. this would put,000s of people to work what we seem to be doing is putting people to work, bidding...
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Jun 5, 2012
06/12
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if rates were to spike three points or, so the government can't pay its debt. we're getting away with murder at 0% and 1% here. >> art, thanks a lot. >> my pleasure. >> meantime, walt disney says they'll stop accepting junk food ads on tv programs, radio shows and web sites aimed at children. you're looking at a live shot at the first lady. she and the head of disney are making that announcement. interesting statistics coming out on the percentage of children in this country who are obese. under the age of 6, nearly one in five, one in five overweight or obese according to the bipartisan policy center. we'll see what eger and the first lady say about this new measure later. >>> when we come back, is this a good move for disney or will the company find itself in sugar withdrawal? a literal food fight. right now, back to brian sullivan with the market flash. >> i did not get into your coffee there, carl, and put that "squawk on the street" in there. i appreciate it. oracle is buying collective intellect. they do basically social media analytics. you tweet stuff,
if rates were to spike three points or, so the government can't pay its debt. we're getting away with murder at 0% and 1% here. >> art, thanks a lot. >> my pleasure. >> meantime, walt disney says they'll stop accepting junk food ads on tv programs, radio shows and web sites aimed at children. you're looking at a live shot at the first lady. she and the head of disney are making that announcement. interesting statistics coming out on the percentage of children in this country...
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May 10, 2012
05/12
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they've made a lot of bets on governments. governments are cutting back. i think he used government and it wasn't an excuse this time. they're killing the competition, but it's not enough, because the customers are frozen. >> we saw it play out in juniper's second quarter guidance. they said things were terrible. very weak guidance and cisco had very good gross margins. that bears it up. they're gaining market share not by cutting prices, but simply getting market share because their products are in demand. at the same time i have to call out john chambers. he used to be a regular here after the earnings call. he does the 4:00 show right after the earnings are released, but he does an interview before the guidance is released. wouldn't you have loved john chaim better to come out and explain the guidance, because today wall street is saying, you know what? we don't know in we can believe cisco systems at this point, and he's not answering to the media. >> stock did tick up to 19 while he was on tv, and then -- >> and then swiftly tanks once the guidance wa
they've made a lot of bets on governments. governments are cutting back. i think he used government and it wasn't an excuse this time. they're killing the competition, but it's not enough, because the customers are frozen. >> we saw it play out in juniper's second quarter guidance. they said things were terrible. very weak guidance and cisco had very good gross margins. that bears it up. they're gaining market share not by cutting prices, but simply getting market share because their...